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Atlanta Falcons Owner Arthur Blank Served With Divorce Papers

Arthur Blank, the billionaire owner of the NFL Atlanta Falcons and co-founder of Home Depot, is getting divorced.

He and his wife Stephanie have been separated since October 2011, but she finally got around to filing the paperwork with the court to formally end their marriage. The couple had been married 16 years and have three children.

TMZ reports that the couple have resolved the financial details of their divorce:

“According to the papers, Stephanie claims the union has been “irretrievably broken” … but the good news — the two have already hammered out a settlement that covers money, custody and property.

The terms of the settlement are confidential — but with Art reportedly worth $1.3 BILLION … Stephanie stands to get some serious green.”

The delay in actually filling in Fulton County, Georgia, court may have been the result of complicated negotiations by their lawyers over cash and other marital assets. Arthur, 70, and Stephanie, 45, also indicated in the court filing that they have agreed up a “comprehensive parenting plan” for the kids.

The Alanta Falcons owner is very generous with his fortune according to London’s Daily Mail:

“He has been a major U.S. philanthropist giving away $250million to charity via his foundation and signing The Giving Pledge, vowing to give away a least 50 per cent of his wealth to charity.

“Through the influence of his wife the foundation has focused on helping young people across Georgia.”

At the time of their separation, a statement set forth that the couple “remain great friends.”